Activision-Blizzard has issued a new SEC filing that explains terms and logistics to its developers and employees.
Why is Activision selling to Microsoft in a huge $68.7 billion deal? According to a new Securities Exchange Commission document, it's a simple matter of opportunism. "This is the right transaction, with the right buyer, at the right time," Activision said in the report.
Why is Activision Blizzard entering into the transaction now?
- This is the right transaction, with the right buyer, at the right time.
- The entertainment landscape is hitting an inflection point that will benefit companies that evolve in order for them to remain relevant and competitive. Bobby and the Board of Directors unanimously agreed this is an exciting opportunity for Activision Blizzard and its shareholders.
- Together, Activision Blizzard and Microsoft will drive innovation, creativity, and advancement in the industry and create another competitive force in the metaverse.
Predictably, the report doesn't mention the elephant in the room.
Sources have told The Wall Street Journal that Activision-Blizzard's sinking reputation amid sexual harassment controversy was the main reason Activision's board and CEO agreed to sell.
ATVI President and CEO Bobby Kotick reportedly knew of the misconduct at the company and didn't inform the board, and new reports suggest he discussed buying out press websites in an effort to control the narrative around the company.
Kotick is expected to leave Activision-Blizzard once the deal with Microsoft closes.
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